13 October 2008
assesse has got the long term capital gain of 1400000/- on a plot of land in f,y. 2007-08, but till now he has not purchased any new residential property till now date nor he has invested any amount in capital gain scheme in any nationalised bank.., so is there any other option available to the assesse for saving himself form the long term capital gain ?
13 October 2008
but he has not bought residential property till now , so can the property bought after due date of filling the return i.e. 31st july considered valid to claim exemption ?
13 October 2008
In case the investment in new residential house is deferred then the amount may be deposited in Capital Gain Scheme Account within 6 months from the date of sale. It seems that the assessee has failed in depositing the same also. As such he will not be elegible for the exemption.
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